Social Media Companies Stepping up Measures to Address Users Privacy Concerns

PALM BEACH, Florida, March 26, 2019 /PRNewswire/ -- Almost every day a report surfaces that customer data was either hacked by a third party or parties unknown, or used by the social media platform itself in ways that users feel compromised. A recent article on CNBC's website addressed consumers growing concerns over the privacy of their data. Its headline was an eye opener: "Four in 10 people have deleted a social media account in the past year due to privacy worries, study says." The article continued: "There is a serious lack of trust in social media such as Facebook and Twitter and consumers expect brands that advertise on such platforms to urgently find solutions, according to research published by public relations consultancy Edelman. Edelman surveyed 9,000 people in Brazil, Canada, China, France, Germany, India, the United Arab Emirates, U.K. and U.S. for the study that was published as part of the Cannes Lions International Festival of Creativity in France. Privacy concerns are contributing to people's distrust of social platforms, said the study by public relations consultancy Edelman, with 70 percent of respondents expecting businesses and advertisers to put pressure on social media sites." Active tech and social media companies in the markets this week include: Findit, Inc. (OTC: FDIT), Facebook, Inc. (NASDAQ: FB), Twitter, Inc. (NYSE: TWTR), Snap Inc. (NYSE: SNAP), Microsoft Corporation (NASDAQ: MSFT).

"We learned that there is a serious lack of confidence in social media in all regions of the world. This is a cry from the heart; people are scared. They are outraged about the violation of their privacy, and uncertain about the truth because of the plague of fake news," said the consultancy's president and CEO Richard Edelman in a statement emailed to CNBC. "Forty percent of those surveyed had deleted at least one social media account in the past year because of privacy concerns and 62 percent wanted more regulation of such platforms."

Findit, Inc. (OTCPK:FDIT) BREAKING NEWS: Findit, owns and operates the website Findit.com, an open source social networking platform technology site which enables users to easily transmit the same posting to social media outlet/applications at the same time, giving members a broader reach, reducing time and making the content easily searchable, today announced it will be launching its revised App in April, that will allow members to create status updates and share them to their other social accounts.